Commercial Real Estate Purchase And Sale Agreement Template for Ireland

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Key Requirements PROMPT example:

Commercial Real Estate Purchase And Sale Agreement

"I need a Commercial Real Estate Purchase And Sale Agreement under Irish law for a retail shopping center in Dublin, with completion planned for March 2025, that must account for multiple existing tenancies and include specific provisions for service charge arrangements."

Document background

The Commercial Real Estate Purchase And Sale Agreement is a vital legal instrument used in Ireland for transferring ownership of commercial properties. This document is essential when businesses or investors are acquiring or disposing of commercial real estate assets such as office buildings, retail spaces, industrial facilities, or mixed-use developments. The agreement ensures compliance with Irish property law and commercial regulations while protecting both parties' interests. It includes comprehensive details about the property, price, conditions, warranties, and completion requirements, incorporating necessary provisions for planning permissions, environmental compliance, and existing tenancies where applicable. The document must align with Irish legal requirements, including the Land and Conveyancing Law Reform Act 2009 and relevant property registration regulations.

Suggested Sections

1. Parties: Identification and details of the seller and purchaser, including registered addresses and company registration numbers if applicable

2. Background: Context of the transaction and brief description of the property being sold

3. Definitions: Definitions of key terms used throughout the agreement

4. Sale and Purchase: Core agreement to sell and purchase the property, including the agreed purchase price

5. Deposit: Details of the deposit amount, payment terms, and conditions for holding/release

6. Title: Seller's confirmation of good marketable title and requirements for title delivery

7. Conditions Precedent: Conditions that must be satisfied before completion can occur

8. Due Diligence: Purchaser's rights and timeline for conducting property investigations

9. Completion: Completion date, requirements, and mechanics of closing the transaction

10. Representations and Warranties: Standard representations and warranties from both parties

11. Risk and Insurance: Allocation of risk and insurance requirements until completion

12. Default: Consequences of default by either party and available remedies

13. Notices: Process and requirements for formal communications between parties

14. Governing Law: Confirmation of Irish law as governing law and jurisdiction

Optional Sections

1. Planning Warranties: Additional warranties regarding planning permissions and compliance - include when property has recent development or pending permissions

2. Environmental Provisions: Specific provisions regarding environmental matters - include when property has industrial use history or known environmental concerns

3. Existing Tenancies: Provisions dealing with existing tenants - include when property is sold subject to tenancies

4. VAT Election: Specific provisions regarding VAT treatment - include when transaction is subject to VAT

5. Development Rights: Provisions regarding future development potential - include when property has significant development potential

6. Service Charges: Provisions for service charge reconciliation - include for multi-unit properties

7. Asset Transfer: Provisions for transfer of associated assets - include when sale includes equipment or other assets

8. Post-Completion Works: Provisions for works to be completed after completion - include when seller agrees to complete certain works

Suggested Schedules

1. Property Description: Detailed description of the property including boundaries, maps, and floor plans

2. Title Documents: List of title documents to be delivered on completion

3. Incumbrances: Details of any existing charges, rights of way, or other incumbrances

4. Existing Tenancies Schedule: Details of all existing tenancies including key terms

5. Inventory: List of fixtures, fittings, and equipment included in the sale

6. Property Certificates: List of certificates relating to the property (fire safety, disability access, BER, etc.)

7. Planning Documentation: Copies of relevant planning permissions and compliance documentation

8. Service Contracts: Details of transferring service contracts and maintenance agreements

9. Environmental Reports: Environmental surveys and reports

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Commercial Property

Retail

Industrial

Office Space

Hospitality

Healthcare

Education

Manufacturing

Logistics

Banking and Finance

Legal Services

Professional Services

Technology

Relevant Teams

Legal

Real Estate

Finance

Operations

Compliance

Risk Management

Property Management

Business Development

Investment

Asset Management

Facilities Management

Corporate Development

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Director

Property Manager

Commercial Lawyer

Legal Counsel

Property Developer

Investment Manager

Asset Manager

Facilities Manager

Real Estate Broker

Acquisition Manager

Development Director

Real Estate Analyst

Finance Director

Risk Manager

Compliance Officer

Operations Director

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Offer To Purchase Property

A formal written offer to purchase property under Irish law, outlining key terms and conditions of the proposed property transaction.

How Genie AI reduced drafting time by 75% for a legal firm

Let's create your Commercial Real Estate Purchase And Sale Agreement

Authors

Alex Denne

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